Gas Natural Inc., a holding company operating Energy West and other local natural gas utilities serving approximately 68,600 customers in Montana and three other states, announced that, based on votes cast at the company’s special meeting of shareholders Wednesday, Gas Natural’s shareholders voted to approve the company’s plan to sell to FR Bison Merger Sub Inc., an indirect wholly owned subsidiary of First Reserve Energy Infrastructure Fund II, L.P.

First Reserve is a private equity and infrastructure investment firm.

“We are pleased with the result of the vote as it overwhelmingly demonstrates the strong support for the transaction by our shareholders,” said Gregory J. Osborne, Gas Natural’s president and chief executive officer. “We have achieved a major milestone toward completing the merger with First Reserve. With shareholder support, we can move forward and seek regulatory approvals.”

The agreement calls for First Reserve to pay $13.10 per share for Gas Natural’s outstanding stock, for a total of $196 million.

The deal is expected to close in the second half of 2017. It also needs approval for the public service commissions in Montana, Maine, North Carolina and Ohio where Gas Natural operates regulated utilities.